Laurel, MT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Laurel, MT Real Estate Data


Laurel Housing Market Information

With 6,943 people, 2,904 houses or apartments, and a median cost of homes of $200,699, Laurel real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Laurel, accounting for 65.24% of the city's housing units. Other types of housing that are prevalent in Laurel include mobile homes or trailers ( 14.79%), duplexes, homes converted to apartments or other small apartment buildings ( 9.48%), and a few large apartment complexes or high rise apartments ( 8.08%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Laurel. Owner-occupied housing accounts for 69.86% of Laurel's homes, and 53.75% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Laurel built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Laurel built between 1940-1969 ( 30.39%). A lesser amount of the housing stock also hails from before 1939 ( 15.93%). There's also some housing in Laurel built between 2000 and later ( 7.23%).

Laurel Home Appreciation Rates

In the last 10 years, Laurel has experienced some of the highest home appreciation rates of any community in the nation. Laurel real estate appreciated 28.61% over the last ten years, which is an average annual home appreciation rate of 2.55%, putting Laurel in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Laurel definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Laurel's appreciation rate, at 5.12%, has been at or slightly above the national average. In the latest quarter, Laurel's appreciation rate has been -0.02%, which annualizes to a rate of -0.06%.

Notably, Laurel's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Montana, our data show that Laurel's latest annual appreciation rate is higher than 90% of the other cities and towns in Montana.

Average Home Values

 

Median Home Value:
$200,699

Laurel, MT HOME PRICES

Value Range
> $1,176,000 0.0
$882,001 - $1,176,000 0.0
$588,001 - $882,000 1.8
$471,001 - $588,000 2.8
$353,001 - $471,000 6.5
$236,001 - $353,000 16.3
$118,001 - $236,000 57.7
$59,001 - $118,000 6.9
$0 - $59,000 8.0

Average for MT
High for Nation

Value Relative to Nation Value Relative to State
32.927329156175 42.96875

Number Of Homes And Apartments:
2,904

Rent & Ownership

 

Average Market Rent:
$719 / per month

Homeownership Rate

Homeownership
Owners 69.86
Renters 30.14
Vacant 5.41

Housing Market Details

 

Age of Homes

AGE OF Laurel HOMES
2000 or Newer 7.2
1970 - 1999 46.4
1940 - 1969 30.4
1939 or Older 15.9

Types of Homes

TYPE OF Laurel HOMES
Single-Family 65.2
Townhomes 2.4
Small Apt. Buildings 9.5
Apt. Complexes 8.1
Mobile Homes 14.8
Other 0.0

Home Size

SIZE OF Laurel HOMES
No Bedroom 0.59
1 Bedroom 14.50
2 Bedrooms 27.23
3 Bedrooms 35.96
4 Bedrooms 17.79
5 or more bedrooms 3.94

Laurel Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MT*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
88.63% 3.80% 6 10
* 10 is highest

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Zip Codes in Laurel, MT